What is Personal Property Coverage? | Allstate Insurance

What is Personal Property Coverage? | Allstate Insurance


Hi, I’m Elizabeth Jusino, but you can call
me Lisa. I’m an Allstate agency owner with offices in Chicago’s Pilsen and Humboldt Park
neighborhoods. When I talk with customers, I always emphasize the importance of personal
property coverage. This coverage may help pay you for the value of your belongings or
pay to replace your belongings if they’re damaged or destroyed due to a covered loss.
For example, personal property coverage may extend to things like furniture, clothing
and electronics if they are stolen or damaged by a fire. This coverage is typically part
of a standard homeowners, renters or condo insurance policy.
I know firsthand how much personal property coverage can help. One day I returned home
with my daughter, and my back door was open and I could hear intruders moving around upstairs.
Right away I ran next door to call the police, and the intruders ran out.
They took so much – electronics, the kids’ video game system, tons of their games, our
jewelry. I was very upset about what had happened, but I was also kicking myself. I didn’t
have a home inventory of my personal property, even though I tell people all the time how
important that is! It took a couple months to work out exactly
what was missing and document it all. When we added it up, the claim totaled $19,000.
I was shocked that it was so much. Fortunately our personal property coverage limits were
high enough and we were covered for everything that was taken.
This experience helped to drive home how important it is to have a home inventory, and I now
have one of my own. It also really demonstrated how quickly your personal property adds up.
It’s so important to choose coverage limits that really reflect the value of your belongings.

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